Skandinaviska Enskilda Banken AB publ Invests $1.35 Million in Flutter Entertainment PLC $FLUT

Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,246 shares of the company’s stock, valued at approximately $1,352,000.

A number of other large investors have also added to or reduced their stakes in FLUT. JCIC Asset Management Inc. purchased a new position in Flutter Entertainment in the third quarter valued at about $32,000. Atlantic Union Bankshares Corp bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth approximately $34,000. ORG Partners LLC lifted its stake in Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after purchasing an additional 43 shares during the last quarter. First Horizon Corp purchased a new position in Flutter Entertainment in the third quarter valued at approximately $39,000. Finally, Allworth Financial LP grew its holdings in Flutter Entertainment by 116.4% during the second quarter. Allworth Financial LP now owns 145 shares of the company’s stock valued at $41,000 after purchasing an additional 78 shares during the period.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $121.07 on Friday. Flutter Entertainment PLC has a 1-year low of $119.47 and a 1-year high of $313.68. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $21.21 billion, a PE ratio of -93.13 and a beta of 1.88. The firm’s 50 day simple moving average is $184.65 and its 200 day simple moving average is $229.54.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citizens Jmp lowered their target price on Flutter Entertainment from $313.00 to $275.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 22nd. BTIG Research lowered their price objective on Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. HSBC upgraded shares of Flutter Entertainment from a “hold” rating to a “buy” rating and cut their target price for the stock from $265.00 to $228.00 in a research report on Monday, November 24th. Oppenheimer set a $280.00 target price on shares of Flutter Entertainment in a research note on Thursday, January 29th. Finally, UBS Group dropped their price target on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $269.10.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.